by Flow cytometry is a laser-based biotechnology or technology that is used to analyze physical and chemical characteristics of cells or particles as they flow in a fluid stream through a beam of laser light. Flow cytometry allows simultaneous multiparametric analysis of the physical and chemical characteristics of single cells suspended in a stream of fluid. The data acquired from flow cytometry provides information about intracellular molecule expression, cell viability, cell signaling, cell cycle progression and more.
The Global Flow Cytometry Market is estimated to be valued at US$ 245.0 Mn in 2024 and is expected to exhibit a CAGR of 14. % over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Flow Cytometry are Google Inc., Apple Inc., Rethink Robotics, BAE Systems, Narrative Science Inc., Creative Virtual Ltd., Microsoft Corporation, Digital Reasoning Systems, Inc., and IBM Corporation. Key players are focusing on product launches and collaborations to strengthen their presence in the market. For instance, in 2021, Becton, Dickinson and Company launched a new laser-based flow cytometer, BD Fortessa X20.
The growth of the Flow Cytometry Market Trends is driven by rising prevalence of chronic and infectious diseases, increasing R&D investments, and technological advancements. Additionally, expanding applications of flow cytometry across various end users such as research & academic institutes, hospitals & clinical testing laboratories, pharmaceutical & biotechnology companies and others are expected to offer immense opportunities for market growth during the forecast period.
With rising demand for flow cytometry techniques across the globe, key players are expanding their presence through new partnerships and collaborations. For example, in 2020, Bio-Techne Corporation acquired Polestar to expand its global footprint in the cell analysis market.
Market Drivers:
Rising prevalence of chronic and infectious diseases is a key driver for Flow Cytometry Market. Flow cytometry techniques are used for screening, detecting, counting and examining various blood cell types and proteins in blood. Growing incidence of diseases such as HIV/AIDS, cancer and respiratory diseases which require diagnosis using flow cytometry techniques is supporting market growth. According to World Health Organization (WHO), cancer burden rose to 19.3 million cases and 10 million cancer deaths in 2020. This increased cancer cases is expected to boost adoption of flow cytometry in research and clinical settings, thereby driving market growth over the forecast period.
PEST Analysis
Political: Flow cytometry market is regulated by various regulatory bodies. New product approvals and quality standards set by these bodies impact the market dynamics.
Economic: Rising healthcare spending and increasing demand for enhanced diagnostics and research is driving market growth. However, the high installation and maintenance cost of flow cytometers pose an economic challenge.
Social: Increasing prevalence of chronic and infectious diseases and growing awareness about disease diagnosis and management are the key social factors boosting market demand.
Technological: Advancements in flow cytometry techniques, development of microfluidic-based portable devices, and integration of artificial intelligence are expanding applications. Automation and miniaturization of devices are recent technological trends.
Geographical Regions of Concentration
North America accounts for the largest share of the global market due to advancements in research, well-established healthcare systems, and presence of major players. The United States holds the majority Flow Cytometry Market Size and trends in the region.
Fastest Growing Region
The Asia Pacific region is expected to grow at the fastest pace during the forecast period. Factors such as rising healthcare expenditure, increasing government funding for life science research, growing collaborations between international companies and regional players are fueling market growth in Asia Pacific countries like China and India.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
